The FTSE MIB fell to around 52,100 on Friday, extending losses for a third straight session as renewed concerns over elevated AI-related valuations and ongoing tensions between the US and Iran weighed on risk sentiment.
Semiconductor firm STMicroelectronics plunged more than 6%, while cable maker Prysmian dropped over 4%, tracking weakness in global technology stocks.
Losses also spread across other sectors, with luxury names Moncler and Brunello Cucinelli falling 1.3% and 1.1%, respectively.
Financials also weighed on the index, led by heavyweight UniCredit (-1.1%), followed by BPER Banca (-0.9%) and Intesa Sanpaolo (-0.5%).
Limiting the downside, utilities outperformed, with Terna (+2.3%), Snam (+2.2%), and Enel (+1.7%) posting solid gains, while Eni rose 1.3% as firmer oil prices supported energy shares.
For the week, the index was on track for a second consecutive decline.